EXIM POLICY

- NIKITA NISHA

No country is self sufficient hence the countries all over the world have become interdependent. .Why do we need exports? Export means trade across the boundaries of the nation.

1992. ‡ The Foreign Trade Policy of India is guided by the Export Import known as EXIM Policy of the Indian Government and is regulated by the Foreign Trade Development and Regulation Act.Exim policy ‡ Export import policy (EXIM) or Foreign Trade Policy is a set of guidelines and instructions established by the DGFT in matters related to the import and export of goods in India. .

P. the Government of India appointed a special Exim Policy Committee to review the government·s previous export import policies. 1985 .‡ History of Exim Policy of India In the year 1962. The committee was later on approved by the Government of India. V. Mr. the then Commerce Minister and announced the Exim Policy on the 12th of April. Singh.

intermediates. ‡ Exports should be promoted in such a manner that the economy of the country is not affected by unregulated exportable items specially needed within the country.‡ Objectives Of The Exim Policy : ‡ The main objective of the Government's EXIM Policy is to promote exports to the maximum extent.' consumables and capital goods required for augmenting production. . ‡ To stimulate sustained economic growth by providing access to essential raw materials. components.

‡ To generate new employment Opportunities ‡ To Encourage the attainment of internationally accepted standards of quality. . ‡ To provide quality consumer products at reasonable prices.

improvements and new schemes became effective from 1st April of every year.‡ Governing Body of Exim Policy ‡ The Government of India announces the Exim Policy every five years under Section 5 of the Foreign Trade (Development and Regulation Act). . 1992 ‡ The Exim Policy is updated every year on the 31st of March and the modifications.

resulting in large-scale unemployment. ‡ A fall in exports has led to the closure of several small. boosting foreign trade and earning valuable foreign exchange. . improving export performance.INDIA·S FOREIGN TRADE POLICY 2009-14 Aim in General ‡ The policy aims at developing export potential.and medium-scale export-oriented units. FTP assumes great significance this year as India's exports have been battered by the global recession.

Targets: Export Target : $ 200 Billion for 2010-11 Export Growth Target: 15 % for next two year and 25 % thereafter. .

Towns of Export Excellence (TEE) ‡ The following cities have been recognized as towns of export excellence (TEE) ‡ Handicrafts : Jaipur. Srinagar and Anantnagar ‡ Leather Products : Kanpur.Dewas and Ambur ‡ Horticultural Products: Malihabad .

Plan to establish "Diamond Bourse (s) with an aim to make India and International Trading Hub announced.Announcements for Gems & Jewellery Sector Duty Drawback is allowed on Gold Jewellery exports to neutralize duty incidence. Introduction of a new facility to allow import on consignment basis of cut & polished diamonds for the purpose of grading/ certification. .

. the procedure for issue of Free Sale Certificate has been simplified and the validity of the Certificate has been increased from 1 year to 2 years. Simplification in EPCG for automobile industry. ‡ Announcements for Automobile Industry ‡ Those Automobile industries which have their R&D establishment will be allowed free import of reference fuels (petrol and diesel). which are not manufactured in India. upto a maximum of 5 KL per annum.‡ Announcements for Medical Devices ‡ To solve the problem of medical device industry.

This has been removed. the requirement of " Handloom mark" was required earlier. .‡ Announcements for Handloom Exports The claims under Focus Product Scheme.

Announcements for Leather Exports : On the payment of 50 % applicable export duty. . Leather sector shall be allowed reexport of unsold imported raw hides and skins and semi finished leather from public bonded ware houses.

Thank you .